C3ai Inc
For the period ended Jan 31, 2024. Filed Feb 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2024 · Filed Feb 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(In thousands, except per share data)
| Three Months Ended January 31, | Nine Months Ended January 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | ||||
| Subscription(1) | $70,400 | $57,043 | $198,201 | $173,577 |
| Professional services(2) | 8,001 | 9,626 | 25,791 | 20,808 |
| Total revenue | 78,401 | 66,669 | 223,992 | 194,385 |
| Cost of revenue | ||||
| Subscription | 32,273 | 21,294 | 93,644 | 54,551 |
| Professional services | 841 | 977 | 3,399 | 6,878 |
| Total cost of revenue | 33,114 | 22,271 | 97,043 | 61,429 |
| Gross profit | 45,287 | 44,398 | 126,949 | 132,956 |
| Operating expenses | ||||
| Sales and marketing(3) | 57,140 | 43,497 | 150,920 | 131,420 |
| Research and development | 49,480 | 55,051 | 150,747 | 160,979 |
| General and administrative | 21,213 | 17,888 | 61,317 | 57,770 |
| Total operating expenses | 127,833 | 116,436 | 362,984 | 350,169 |
| Loss from operations | (82,546) | (72,038) | (236,035) | (217,213) |
| Interest income | 9,995 | 6,987 | 30,597 | 13,749 |
| Other income (expense), net | 409 | 2,032 | (468) | 66 |
| Loss before provision for income taxes | (72,142) | (63,019) | (205,906) | (203,398) |
| Provision for income taxes | 489 | 143 | 863 | 485 |
| Net loss | $(72,631) | $(63,162) | $(206,769) | $(203,883) |
| Net loss per share attributable to Class A and Class B common stockholders, basic and diluted | $(0.60) | $(0.57) | $(1.75) | $(1.87) |
| Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted | 120,486 | 110,735 | 118,259 | 108,869 |
(1)Including related party revenue of $10,581 and $55,884 for the nine months ended January 31, 2024 and 2023, respectively, and $20,316 for the three months ended January 31, 2023.
(2)Including related party revenue of $5,804 and $8,749 for the nine months ended January 31, 2024 and 2023, respectively, and $8,599 for the three months ended January 31, 2023.
(3)Including related party sales and marketing expense of $810 and $10,546 for the nine months ended January 31, 2024 and 2023, respectively, and $3,515 for the three months ended January 31, 2023.
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